Edgewater Estates
7954 Birch Bay Dr, Blaine, WA, 98230-7001, US
4 401 000 $ | 47 unités
Descriptif
JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Broadway Manor (the "Property"), a 11.1-acre living community located in Hoquiam, WA. The offering consists of a manufactured housing community with 44 sites conveniently located next to downtown Hoquiam, which hosts popular local restaurants and has a Grocery Outlet, Home Depot, and the Harbor Regional Health Emergency Department nearby. In the adjacent town of Aberdeen, there is a Safeway, Rite Aid, and Walmart Supercenter.
This value-add opportunity features an asset currently at 61% occupancy, presenting significant upside potential through targeted lease- up initiatives and infill development. There is potential to infill an additional 17 homes, which would generate $80,580 in annual revenue based on current rents. Broadway Manor commands strong rental revenue given the superior coastline lifestyle and limited housing supply.
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Attributs
Nombre d'unités
44
Occupation
61 %
Superficie du terrain brute
4,5 ha
Colis
518103632002
Média
Points forts de l'investissement
- The Property presents an attractive value-add opportunity with its current below-market rents compared to nearby parks, offering significant potential for revenue growth through strategic rental rate adjustments
- Potential for an additional 17 homes presents value-add potential through infill and lease-up
- Located within close proximity to the Grays Harbor National Wildlife Refuge
- Lack of affordable housing creates a supply/demand imbalance, positioning the Property favorably
- Close to tenant-friendly amenities including the harbor, parks, hiking trails, local restaurants, shopping centers, and the Kurt Cobain Childhood Home and Under the Bridge Memorial
Contactez les courtiers
Broadway Manor MHP (0 Propriétés)
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Dernière mise à jour
28 mai 2025
